How the coronavirus has affected the e-commerce market around the world

Many in the e-commerce industry believe that the pandemic will eventually benefit their businesses. Experts are confident about coronavirus ecommerce that if online sellers can find the “right products” that people need during quarantine and will need in the future, after COVID-19, e-commerce sales will be higher than before. of coronavirus.

Trade-in pandemic times

The spread of coronavirus has meant that access to traditional warehouses has been largely restricted or blocked by government laws. Some of the vendors, fearing infections, closed their shops, even though they were not forced to do so. The case was similar from the consumer’s point of view.

Increased interest in online shopping

As already mentioned, the e-grocery industry has grown very fast in recent weeks. However, this is only a fraction of the global e-commerce market. In other industries, the number of newly opened stores increased significantly compared to 2019. The largest increase was in the multimedia industry. Includes all stores that sell computer games, board games, and books.

Changing shopping habits

After the economy thawed, shops and malls were reopened. It seems, however, that only 30-50% of people use them compared to the time before the pandemic. This is due to both health and safety concerns and changing habits. Nearly two months of the closure of some industries have made many people accustomed to shopping online.

The e-commerce market after the pandemic

The pandemic, in addition to a very large increase in sales, forced a series of changes in online stores. First of all, it is about ensuring the safety of employees. People who perform their tasks in warehouses are particularly vulnerable. They are responsible for preparing and executing orders. Unlike office workers, they cannot work in a home office mode, which causes a much higher health risk. Proper storage space, allowing you to keep safe distances, allows you to ensure the safety of employees.

No one is surprised that the current pandemic has contributed to a sharp rise in online sales. The risk of infection and many restrictions means that society, metaphorically speaking, has moved part of its life on the Internet. We work remotely, communicate through chats, meet at video conferences, deal with official issues online, and at the end of the day we shop online.

Changing consumer behavior

Although online sales are doing very well, the dynamism we are currently seeing makes the e-commerce market facing new challenges. First, consumers buy more online. The approach of the elderly, which until now has been a niche among online store customers, is also changing. Shopping comfort is not unimportant here, as is door-to-door delivery, which eliminates the need to charge commissions.

Advantages and disadvantages of online sales platforms

BENEFITS

• Brand recognition in the market

• A large number of customers on a single platform

• Possibility to reach foreign customers

• Sales and logistics support

• Better product promotion

• Increase the credibility of sellers

• Access to innovative solutions

• Access to analytical and comparative data

DISADVANTAGE

• Very strong competition from other sellers in the same place

• Introducing frequent changes in sales and tax policy

• Service costs

• Restrictive requirements for product descriptions, photos, and customer service

• Limited opportunities to promote your brand of online store